Reuben brothers eye £2.7 billion float

David and Simon Reuben are in talks with banks including Barclays, HSBC, Deutsche and Credit Suisse about listing the business in the third quarter of next year, in a float valuing the company at more than £2.7 billion.

The value of Global Switch has soared by more than £1 billion in the past 12 months alone, making it one of the Reuben brothers' most profitable investments.

The brothers have twice before considered listing the company, but decided against going ahead during the credit crunch.

A successful float would help to repair the battered finances of the Reubens. The brothers, the ninth-richest entrepreneurs in Britain, according to the last Sunday Times Rich List, saw their fortune slump by £1.8 billion to £2.5 billion during the credit crunch.